Adam White, the Fifth Employee of Coinbase, Moves on From the Cryptocurrency Exchange

Adam White has been around since the beginning of Coinbase and was only hired as the fifth person to join the team. However, the institutional cryptocurrency exchange is about to change, because he is going to be leaving the company. He’s been with the platform since 2013, when Bitcoin was priced at $200 and their office was just a one-bedroom apartment. However, there isn’t much information regarding the cause of his exit.

It seems that this departure is timed at the same moment that Coinbase is working to secure bigger clients, like hedge funds and similar institutional investors. The irony of this situation is that White was formerly the head of the institutional side of the business.

CEO Brian Armstrong spoke about the time White was with the company. He said,

“Over the past five years, Adam helped us build our exchange business into the largest U.S.-based crypto-trading venue and was integral to growing Coinbase’s global presence and scaling our culture to multiple offices.”

A spokesman for the company said,

“While we’re extremely sad to see him go, we’re also confident in that group’s ability to keep executing on the vision that he laid out to be the most trusted venue for institutional investors to trade cryptocurrencies.”

To manage the institutional business of Coinbase, the company has already welcomed Jonathan Kellner, who formerly worked as a CEO of Instinet.

At the time of writing, White has provided no further comments.

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